Market Soapbox 05/23/06
Resistance: DJIA 11775; SP500 1335; Nasdaq 2380; NDX 1750
Support: DJIA 10850; SP500 1250; Nasdaq 2150; NDX 1550
In our top story tonight, Generalissimo Francisco Franco is STILL dead. Oil & Metals attempted to drive the market back up, but alas, all that glitters is not gold.
Since peaking: 05/10, DJIA -4%, since 05/05 SP500 -4.1% ; since 04/19 NAZ -6.4%. Homebuilders YTD -21.8%.
Bonds UP with the 30 yr yield falling @ 5.12%; 10 yr @ 5.02; 5 yr @ 4.92; 2yr @ 4.92`; 6 mo @ 4.95. 2yr above 10 yr 12/27 - 03/07 & 03/20 - 3/29. 2yr above 30 yr 02/09 - 03/07 & 03/21 - 3/29.
MON, DJIA a deceiving -19 on another broadbased selloff with Hindenburg like internals on lower volume. The good news?? bouncing up into the close from over 70 points down.
TUES, mirror image of MON, DJIA up over 70, then pffffttttt into the close DJIA -27 on steady volume with semi ugly internals. This week DJIA -46, since 09/19/05 DJIA +467.
Indexes UP: XAU, XOI DOWN: Everything else
Sectors UP: Gold Bugs, Oil, Pharma, Commodity DOWN: Everything else BIG
Overseas: DAX , CAC, FTSE, Hang Seng ALL UP BIG TIME & Nikkei 225 slammed BIG.
Dollar DOWN vs. Euro 1.2893 & vs. Yen 110.73, XAU & gold UP 2.5% @ 677, XOI & crude UP 2.5% @ 71.76, CRB commodities index UP @ 344.21 Copper +12%, Silver +6%.
XOI still sitting on, TMWX, MID & RUT breeched 200DMA, OEX & SP500 fell further from 200DMA, NDX on its way to 600DMA. Thurs, GDP awaits, Fri, PCE chain deflator. Slip, slidin away....
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!!!
Support: DJIA 10850; SP500 1250; Nasdaq 2150; NDX 1550
In our top story tonight, Generalissimo Francisco Franco is STILL dead. Oil & Metals attempted to drive the market back up, but alas, all that glitters is not gold.
Since peaking: 05/10, DJIA -4%, since 05/05 SP500 -4.1% ; since 04/19 NAZ -6.4%. Homebuilders YTD -21.8%.
Bonds UP with the 30 yr yield falling @ 5.12%; 10 yr @ 5.02; 5 yr @ 4.92; 2yr @ 4.92`; 6 mo @ 4.95. 2yr above 10 yr 12/27 - 03/07 & 03/20 - 3/29. 2yr above 30 yr 02/09 - 03/07 & 03/21 - 3/29.
MON, DJIA a deceiving -19 on another broadbased selloff with Hindenburg like internals on lower volume. The good news?? bouncing up into the close from over 70 points down.
TUES, mirror image of MON, DJIA up over 70, then pffffttttt into the close DJIA -27 on steady volume with semi ugly internals. This week DJIA -46, since 09/19/05 DJIA +467.
Indexes UP: XAU, XOI DOWN: Everything else
Sectors UP: Gold Bugs, Oil, Pharma, Commodity DOWN: Everything else BIG
Overseas: DAX , CAC, FTSE, Hang Seng ALL UP BIG TIME & Nikkei 225 slammed BIG.
Dollar DOWN vs. Euro 1.2893 & vs. Yen 110.73, XAU & gold UP 2.5% @ 677, XOI & crude UP 2.5% @ 71.76, CRB commodities index UP @ 344.21 Copper +12%, Silver +6%.
XOI still sitting on, TMWX, MID & RUT breeched 200DMA, OEX & SP500 fell further from 200DMA, NDX on its way to 600DMA. Thurs, GDP awaits, Fri, PCE chain deflator. Slip, slidin away....
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!!!
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